Avnet 2012 Annual Report Download - page 126

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shall be, to the extent thereof, in full satisfaction of all claims against the Plan Committee and the Company (including
claims unrelated to this Plan). As a condition precedent to any payment, the Plan Committee may require the recipient to
execute a receipt and release to such effect.
Payment to Minors and Incompetents
If any person is a minor or unable to care for his affairs because of illness or accident, unless a duly qualified guardian or
other legal repre-sentative has been appointed, any pay-ment due under the Plan to that person may be paid, for the bene-
fit of such person, to his spouse, parent, brother, sister, or other person deemed by the Plan Committee to have incurred
expenses for such pers-on. Such payment, to the extent thereof, shall discharge all liability for such payment under the
Plan.
Doubt as to Identity or Whereabouts
Discretion to Accelerate Payment
The Plan Committee shall have discretion to accelerate payments of benefits under the Plan to the extent (and only to the
extent) permitted by Treas. Reg. ยง 1.409A-3(j)(4).
Overpayments
If any overpayment of benefits is made under the Plan, the recipient of the overpayment shall be required to return the
overpaid amount plus reasonable interest. To the extent that the Company is unable to recover the overpayment, any
future benefit payments shall be reduced until the overpayment and reasonable interest are recovered; provided that any
offset shall be applied in accordance with the applicable requirements of Section 409A of the Code. The foregoing
remedy is not intended to be exclusive.
(a)
If, after reasonable efforts, the Plan Committee is unable to determine the whereabouts of any person entitled to
payment hereunder, the required payment to such person shall be deemed made at the Payment Date, and the
Plan Committee shall take (or cause to be taken) all steps that it determines to be reasonably appropriate to avoid
a violation of Section 409A of the Code ( e.g. , withholding income taxes at the time of each deemed payment,
and depositing the amount withheld with the Internal Revenue Service). For purposes of the preceding sentence,
notice by registered mail sent to such person's most recent address (as reflected in the Plan records) shall be
deemed to constitute reasonable efforts to locate such person. Subject to the requirements of Section 409A of the
Code, if such person subsequently makes a proper claim to the Company for such sum, the Company may in its
discretion pay to such person the net amount (after withholding) of the deemed payment described in this Section
6.06.
(b)
If a payment is made to a Participant or Beneficiary as provided under the Plan, the payment is not returned as
being undeliverable, and the check on which the payment is made is not presented for payment before the check
expires, then the amount of the check may be forfeited. However, if such Participant or Beneficiary subsequently
makes a proper claim for the amount of the uncashed benefit check, the Company may in its discretion issue a
replacement check (net of withholding).
Avnet Restoration Plan
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January 1, 2012 Page 13